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Mar 6, 2014
03/14
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their plan called for the deficit $819 billion in 2013. what was the deficit for 2013? >> $680 billion. >> well, that is much less than what simpson bowles projected sit not? >> it is. >> so last year, 2013, president obama exceeded the deficit reduction goal of simpson bowles of $139 billion. am i correct? >> yes, sir. >> yes, sir i would have to look at what numbers they have at what years. >> do you know what the number will be? >> it is 2016 and it will be 531. gee have to look at these numbers. give the president and this administration some credit. i have been pretty tough on them. give them some cd. they did something else. they did something that bass wa positionti positive. but you are never going to give any credit to anybody except the pat on the back at the christmas party. superintendant th isn't that wonderful? >> does this plan raise the age for social security? >> no, sir. >> does it change the measure of inflation for social security? >> so this administration has managed to reduce the deficit in 2013 below bowles simpson to social security. >> so now w
their plan called for the deficit $819 billion in 2013. what was the deficit for 2013? >> $680 billion. >> well, that is much less than what simpson bowles projected sit not? >> it is. >> so last year, 2013, president obama exceeded the deficit reduction goal of simpson bowles of $139 billion. am i correct? >> yes, sir. >> yes, sir i would have to look at what numbers they have at what years. >> do you know what the number will be? >> it is 2016...
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Feb 26, 2014
02/14
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, increasing the deficit. so let me say a word about this. unlike many expenditures, including the wars in iraq and afghanistan, the truth is that this bill will not add one penny to the deficit. and let me repeat, this bill will not add one penny to the deficit. the congressional budget office, the nonpartisan scorekeeper, has estimated that mandatory spending in this legislation will total $2.88 billion over the next decade. all of this mandatory spending is completely offset, not by the overseas contingency operations or o.c.o., but through more than $4.2 billion in actual savings from programs within the jurisdiction of the senate veterans' affairs committee. as a result, c.b.o. has determined that overall mandatory spending -- mandatory spending in this bill will be reduced, will be reduced, by more than $1.3 billion. in addie mandatory spending, this bill authorizes $18.3 billion in discretionary spending over the next five years to improve the lives of our nation's veterans and their families. mr. presi
, increasing the deficit. so let me say a word about this. unlike many expenditures, including the wars in iraq and afghanistan, the truth is that this bill will not add one penny to the deficit. and let me repeat, this bill will not add one penny to the deficit. the congressional budget office, the nonpartisan scorekeeper, has estimated that mandatory spending in this legislation will total $2.88 billion over the next decade. all of this mandatory spending is completely offset, not by the...
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Mar 3, 2014
03/14
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here we see a budget deficit falling sharply. i'll pick on the cbo since everybody picks on the cbo. i thought their receipt estimates for next two or three years were a little stingy, but no matter how you slice it the deficit as percentage of gdp is headed below 3% in the next year or two. you see all this good news. yet no one in this city wants to acknowledge it or take credit for it. it is damnest thing i ever have seen. let me fin wish a comment on three sources in this city that seem unwilling to acknowledge the fact that things have gotten better. you have to ask the question, could this be a self-fulfilling prophecy? first and foremost, not surprisingly is the media. i have some friend here in the press but media feels you can sell more newspapers and get better ratings when you talk about the negative. during the holidays, my blood pressure spiked about 20 points. i saw two stories talking about the recession as if it were still underway. well, for christ's sake the recession ended in june of 09 yet you still hear in th
here we see a budget deficit falling sharply. i'll pick on the cbo since everybody picks on the cbo. i thought their receipt estimates for next two or three years were a little stingy, but no matter how you slice it the deficit as percentage of gdp is headed below 3% in the next year or two. you see all this good news. yet no one in this city wants to acknowledge it or take credit for it. it is damnest thing i ever have seen. let me fin wish a comment on three sources in this city that seem...
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Feb 27, 2014
02/14
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maya mcginns, a capable observer said using the war gimmick to offset other costs or count toward deficit reduction would send a message to the american public and our investors that we are not serious about controlling the debt. in fact, it would send the message that not only are we not serious, but we're going to try to trick everyone that we're actually doing something productive on the deficit. that's the hyatt of -- height of irresponsibility, close quote. myra mcginns, a director at the committee for responsible federal budget, said that last november. so we're not going to go for this. we're not going to go for this. we're not going to waive the budget in this fashion. it's not going to pass. and it should have been known beforehand when senator sanders and senator reed have sought to push this bill through that it's never going to pass. because there are enough senators in this body have enough strength of will to honor the commitment we made a few weeks ago in the ryan-murray legislation. and we're not going to use some bogus gimmick to justify busting the budget. so the deal is
maya mcginns, a capable observer said using the war gimmick to offset other costs or count toward deficit reduction would send a message to the american public and our investors that we are not serious about controlling the debt. in fact, it would send the message that not only are we not serious, but we're going to try to trick everyone that we're actually doing something productive on the deficit. that's the hyatt of -- height of irresponsibility, close quote. myra mcginns, a director at the...
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Feb 26, 2014
02/14
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with $17 trillion in debt and massive annual deficits, our country faces a fiscal crisis of unparalleled scope. now is not the time in any federal department to spend money we don't have. to be sure, there's much to like in the sashed sanders bill and e components were presented as separate, smaller as part of a carefully considered long-term strategy to reform the v.a., hold leadership accountable and improve service to veterans, we'd have no problem expending enthusiastic support. as with many bloated legislative projects in today's washington, the overreaching and overpromising in this bill will only lead to disappointment and recriminations as the high cost and unanticipated consequences are revealed. that will be followed by demands for an entirely new round of comprehensive reforms and the cycle will begin anew. congress should go back to the drawing board, assume a more modest approach and take up these proposals on an individual basis. that's the better path to achieving enduring and effective reform and accountability for the services we provide to our veterans." so i point that
with $17 trillion in debt and massive annual deficits, our country faces a fiscal crisis of unparalleled scope. now is not the time in any federal department to spend money we don't have. to be sure, there's much to like in the sashed sanders bill and e components were presented as separate, smaller as part of a carefully considered long-term strategy to reform the v.a., hold leadership accountable and improve service to veterans, we'd have no problem expending enthusiastic support. as with...
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Feb 27, 2014
02/14
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more good news because we now know that the second promise of the act, that it was going to reduce the deficit, is true as well. c.b.o. tells us that from the ten-year period covering the enactment of the law to a decade later, we're going to save about $1.2 trillion beyond what we additionally estimated. current trajectories we are going to be $250 billion under c.b.o.'s initial estimate for federal health care expenditures on an annual basis. that's big savings to the taxpayers, and when you combine that with the millions of americans who have coverage, you can see how the affordable care act is working. now, there is still work to do, and there are going to be debates on the floor of the senate about ways in which we could change and fix the affordable care act. we're reordering 1/6 of the american economy. there is no doubt going to be bumps along the road and no doubt going to be places where we can find bipartisan agreement on how we can fix the act, make it work even better. but the answer from our republican colleagues has been pretty simple so far. it has been to simply repeal the law
more good news because we now know that the second promise of the act, that it was going to reduce the deficit, is true as well. c.b.o. tells us that from the ten-year period covering the enactment of the law to a decade later, we're going to save about $1.2 trillion beyond what we additionally estimated. current trajectories we are going to be $250 billion under c.b.o.'s initial estimate for federal health care expenditures on an annual basis. that's big savings to the taxpayers, and when you...
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Feb 28, 2014
02/14
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everything that we vote on, annually as a congress, eliminate all that, we would still be running a deficit of a half trillion dollars a year. the real problem, the, i was going to say elephant, but i'm saying the big animal in the room, gorilla in the room that, that everybody's avoiding is the mandatory spending. and unless we address that, we're just going to keep digging ourselves further and further in the hole. and that is the real problem. and we're trying to, like i say, solve it on the backs of our military. can't be done. >> excuse me. what are your priorities for marking up the fiscal year 2015 defense authorization bill? >> getting it done by october 1st. that is by main, and you're going to hear, that is all i'm going to be talking about between here and october because i'm really concerned. i brought that up in the meeting with the big eight and secretary and general dempsey. it is incumbent upon us to get that done. last year we got the defense authorization bill done on the last day the senate was in session. or we would have missed it. now we have passed that bill every yea
everything that we vote on, annually as a congress, eliminate all that, we would still be running a deficit of a half trillion dollars a year. the real problem, the, i was going to say elephant, but i'm saying the big animal in the room, gorilla in the room that, that everybody's avoiding is the mandatory spending. and unless we address that, we're just going to keep digging ourselves further and further in the hole. and that is the real problem. and we're trying to, like i say, solve it on the...
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Feb 27, 2014
02/14
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even vote on the ranking member's veterans amendment, legislation i support that will not add to the deficit. i amal cosponsor of this legislation, which provides -- i am a cosponsor of this legislation, which provides advanced appropriations for v.a. mandatory accounts, improves services and benefits for victims of military sexual trauma, enhances benefits for survivors and dependents of deceased or disabled veterans, encourages the hiring of veterans, and unlike the sanders' bill is fully paid for. as for the iran sanctions language in the burr amendment, as i noted yesterday, there is significant disagreement between the president and many members from both parties in both the house and the senate concerning the best way to prevent iran from acquiring a nuclear weapon. the iranian regime has carried out its best attempt at a charm offensive to forestall not only the implementation but the legislative consideration of even tougher sanctions, should the regime fail to fulfill its commitments, according to november's interim agreement. the interim agreement included a joint plan of action, a
even vote on the ranking member's veterans amendment, legislation i support that will not add to the deficit. i amal cosponsor of this legislation, which provides -- i am a cosponsor of this legislation, which provides advanced appropriations for v.a. mandatory accounts, improves services and benefits for victims of military sexual trauma, enhances benefits for survivors and dependents of deceased or disabled veterans, encourages the hiring of veterans, and unlike the sanders' bill is fully...